Currency Hedge

Fleming American Inv Trust PLC
30 November 2000


        THE FLEMING AMERICAN INVESTMENT TRUST PLC 

                   CURRENCY HEDGE



The Board of the Fleming American Investment Trust plc
announce that a three year forward purchase of £ against US$
was today initiated to hedge the principal amount of the £50
million debenture which was issued by the Company earlier
this year.





F.W. Easton
For and on behalf of
Chase Fleming Assets Management (UK) Limited - Secretary





For further information:

John Lipscomb
Chase Fleming Asset Management (UK)Limited 020 7742 6000